26/06/2026
Big changes are coming from 1 July 2026, and we want to make sure our clients feel completely comfortable and informed.
New updates to Australiaās Anti Money Laundering and Counter Terrorism Financing (AML/CTF) laws mean that conveyancers (yep ā that includes us!) now have some extra steps we need to follow before we can get started on your matter.
These changes are all about keeping Australiaās financial system safe and making sure property transactions arenāt misused for the wrong reasons.
š¬ So what does this mean for you?
When you work with us, we may need to ask you for a little more information than before. As AUSTRAC explains:
āFrom 1 July 2026, changes to the Anti Money Laundering and Counter Terrorism Financing Act 2006 mean that we now have a legal obligation to verify your identity before we can provide services to you.ā
This might include:
⢠Confirming your identity
⢠Asking how our services will be used
⢠Checking who owns or controls a business or entity involved
⢠Making sure your details stay up to date
⢠Requesting extra information if needed
Nothing scary ā just standard legal requirements that now apply across many industries.
š”ļø Why these checks matter
AUSTRAC puts it simply:
āProtect customers and services from criminal abuseā āSupport a safe and secure financial systemā āMeet our legal obligationsā
And honestly, thatās exactly what we want too.
š¤ Weāve got you
We know buying or selling property is already a big deal. These new steps wonāt make things harder ā weāll walk you through everything, explain what we need and why, and keep the process as smooth as possible.
š Weāve attached AUSTRACās official customer information flyer so you can see exactly what these changes look like.
If youāve got questions or youāre unsure how this affects your upcoming matter, just reach out. Weāre always here to help.
So please everybody, be patient with your Conveyancer/Solicitor, Broker/Lender and Real Estate Agent, these new regulations/compliance are new but necessary for us all.